NuVasive Inc Stock Research

Market Summary

USD37.93-0.49

Market Closed

-1.28%

NUVA Alerts

Big jump in Earnings (Y/Y)

NUVA Stock Price

NUVA RSI Chart

NUVA Valuation

Market Cap

2.0B

Price/Earnings (Trailing)

48.94

Price/Sales (Trailing)

1.65

EV/EBITDA

7.97

Price/Free Cashflow

66.16

NUVA Price/Sales (Trailing)

NUVA Profitability

EBT Margin

4.35%

Return on Equity

4.65%

Return on Assets

1.82%

Free Cashflow Yield

1.51%

NUVA Fundamentals

NUVA Revenue

Revenue (TTM)

1.2B

Revenue Y/Y

1.12%

Revenue Q/Q

3.44%

NUVA Earnings

Earnings (TTM)

40.4M

Earnings Y/Y

165.54%

Earnings Q/Q

1.3K%

Price Action

52 Week Range

35.1760.47

(Low)(High)

Last 7 days

-8.9%

Last 30 days

-13.2%

Last 90 days

-6.8%

Trailing 12 Months

-23.8%

NUVA Financial Health

Current Ratio

1.21

NUVA Investor Care

Shares Dilution (1Y)

0.71%

Diluted EPS (TTM)

0.76

Peers (Alternatives to NuVasive)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
SYK	104.1B	18.4B	2.26%	8.00%	44.16	5.64	7.84%	18.25%
ISRG	84.2B	6.2B	-4.47%	-13.27%	63.66	13.53	8.97%	-22.43%
BSX	69.1B	12.7B	0.59%	12.45%	99.06	5.45	6.68%	-32.95%
BDX	67.4B	19.0B	-5.16%	-6.78%	41.86	3.55	-0.43%	-8.78%
EW	49.8B	5.4B	2.41%	-25.12%	32.74	9.26	2.86%	1.25%
MID-CAP
SWAV	7.2T	489.7M	9.34%	31.15%	82.2K	16.8K	106.51%	2464.23%
PEN	10.2B	847.1M	-3.64%	34.52%	-5.1K	12.05	13.32%	-137.89%
GMED	5.2B	1.0B	-11.64%	-20.31%	30.19	5.09	6.76%	24.45%
IRTC	3.5B	410.9M	4.51%	-3.13%	-29.82	8.43	27.29%	-14.60%
TNDM	2.7B	801.2M	1.13%	-58.87%	-28.25	3.34	14.00%	-707.69%
SMALL-CAP
SILK	1.7B	138.6M	-15.68%	29.18%	-30.43	12.07	36.62%	-10.44%
ATEC	1.6B	350.9M	10.38%	49.06%	-10.84	4.7	44.26%	-5.42%
AVNS	1.3B	820.0M	-8.35%	-12.22%	25.89	1.59	10.13%	701.59%
CSII	828.4M	239.8M	0.30%	1.49%	-21.88	3.45	-4.74%	-31.15%

Financials for NuVasive

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	0.3%	1,202	1,199	1,174	1,159	1,139
Gross Profit	-0.4%	865	869	837	829	817
Operating Expenses	-6.5%	777	831	827	841	829
S&GA Expenses	-0.2%	634	636	628	624	610
R&D Expenses	0.3%	98.00	98.00	94.00	93.00	-
EBITDA	42.8%	217	152	131	141	-
EBITDA Margin	42.4%	0.18*	0.13*	0.11*	0.12*	-
Earnings Before Taxes	486.1%	52.00	-13.55	-34.75	-26.41	-58.38
EBT Margin	485.0%	0.04*	-0.01*	-0.03*	-0.02*	-
Interest Expenses	0.1%	17.00	17.00	17.00	17.00	21.00
Net Income	298.0%	40.00	-20.40	-40.07	-37.37	-64.09
Net Income Margin	297.5%	0.03*	-0.02*	-0.03*	-0.03*	-
Free Cahsflow	10.1%	30.00	27.00	44.00	38.00	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	2.3%	2,225	2,175	2,174	2,161	2,154
Current Assets	2.6%	865	843	823	792	802
Cash Equivalents	4.7%	249	238	226	205	246
Inventory	-0.7%	339	341	332	324	316
Net PPE	-	304	-	-	-	-
Goodwill	2.3%	640	625	630	637	633
Current Liabilities	2.7%	716	697	701	249	201
Shareholder's Equity	4.4%	869	832	827	812	795
Retained Earnings	38.8%	86.00	62.00	64.00	65.00	46.00
Additional Paid-In Capital	0.8%	1,469	1,458	1,453	1,442	1,435
Accumulated Depreciation	-	503	-	-	-	-
Shares Outstanding	0.1%	52.00	52.00	52.00	52.00	52.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	5.9%	169	160	171	157	182
Share Based Compensation	8.1%	29.00	26.00	27.00	24.00	25.00
Cashflow From Investing	-11.0%	-155	-139	-133	-167	-136
Cashflow From Financing	10.0%	-8.59	-9.54	-9.76	-16.23	-653
Buy Backs	-20.6%	6.00	7.00	7.00	14.00	9.00

Risks for NUVA

What is the probability of a big loss on NUVA?

89.6%

Probability that NuVasive stock will be more than 20% underwater in next one year

69.6%

Probability that NuVasive stock will be more than 30% underwater in next one year.

24.6%

Probability that NuVasive stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does NUVA drawdown profile look like?

Y-axis is the maximum loss one would have experienced if NuVasive was unfortunately bought at previous high price.

Drawdowns

Returns for NUVA

Cumulative Returns on NUVA

6.6%

10-Year Cumulative Returns

-2.5%

7-Year Cumulative Returns

-5.9%

5-Year Cumulative Returns

-4%

3-Year Cumulative Returns

What are the long-term rolling returns for NUVA?

FIve years rolling returns for NuVasive.

Annualized Returns

Which funds bought or sold NUVA recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	14.23	2,104,810	30,049,800	0.03%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	-4,000	58,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-59.1	-1,344,460	841,544	-%
2023-02-24	NATIXIS	new	-	68,458	68,458	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	added	113	285,000	567,000	0.01%
2023-02-21	MACQUARIE GROUP LTD	reduced	-0.66	-6,636,000	95,418,000	0.11%
2023-02-21	NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC	sold off	-100	-329,000	-	-%
2023-02-15	Financial Gravity Asset Management, Inc.	sold off	-100	-109	-	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	reduced	-53.89	-4,167,060	3,195,940	-%
2023-02-15	HOWE & RUSLING INC	sold off	-100	-3,000	-	-%

Latest Funds Activity

Are funds buying NUVA calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own NUVA

No. of Funds

NUVA Alerts

Big jump in Earnings (Y/Y)

NuVasive News

Schedule 13G FIlings of NuVasive

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	thrivent financial for lutherans	6.18%	3,219,514	SC 13G
Feb 09, 2023	vanguard group inc	11.96%	6,236,112	SC 13G/A
Jan 06, 2023	blackrock inc.	17.5%	9,100,878	SC 13G/A
Jul 11, 2022	vanguard group inc	10.21%	5,313,551	SC 13G/A
Feb 11, 2022	hartford mutual funds inc/ct	-	0	SC 13G
Jan 28, 2022	blackrock inc.	11.6%	6,013,654	SC 13G/A
Jan 26, 2022	jpmorgan chase & co	5.6%	2,911,233	SC 13G
Dec 10, 2021	wellington management group llp	1.09%	567,267	SC 13G/A
Sep 10, 2021	wellington management group llp	7.74%	4,019,215	SC 13G/A
Feb 10, 2021	vanguard group inc	9.39%	4,816,692	SC 13G/A

NUVA Fair Value

NuVasive fair value in different scenarios

The table shows the Fair Value estimates for NuVasive for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	5.98 -84.23%	7.33 -80.67%	10.97 -71.08%	14.93 -60.64%	17.73 -53.26%
Current Inflation	5.59 -85.26%	6.77 -82.15%	9.88 -73.95%	13.26 -65.04%	15.62 -58.82%
Very High Inflation	5.09 -86.58%	6.08 -83.97%	8.56 -77.43%	11.28 -70.26%	13.15 -65.33%

Historical NuVasive Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of NuVasive

View All Filings

Date Filed	Form Type	Document
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Feb 23, 2023	425	Prospectus Filed
Feb 22, 2023	8-K	Current Report
Feb 22, 2023	425	Prospectus Filed
Feb 22, 2023	425	Prospectus Filed

Latest Insider Trading transactions for NUVA

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-01	Barry James Christopher	sold (taxes)	-490,918	42.67	-11,505	chief executive officer
2023-03-01	Wolf Dale A.	acquired	-	-	4,572	svp, global operations
2023-03-01	Harbaugh Matthew K	acquired	-	-	12,190	evp and cfo
2023-03-01	SISITSKY NATHANIEL	acquired	-	-	5,333	svp & general counsel
2023-03-01	SISITSKY NATHANIEL	sold (taxes)	-84,315	42.67	-1,976	svp & general counsel
2023-03-01	Harbaugh Matthew K	sold (taxes)	-150,454	42.67	-3,526	evp and cfo
2023-03-01	Wolf Dale A.	sold (taxes)	-60,932	42.67	-1,428	svp, global operations
2023-03-01	Farrington Michael	acquired	-	-	1,905	svp, people and culture
2023-03-01	Farrington Michael	sold (taxes)	-33,111	42.67	-776	svp, people and culture
2023-03-01	Rosenbaum Marc W.	acquired	-	-	1,829	chief accounting officer

About NuVasive

J. Christopher Barry

www.nuvasive.com

2900

NuVasive, Inc., a medical technology company, develops, manufactures, and sells procedural solutions for spine surgery. It provides surgical access instruments, including Maxcess integrated split-blade retractor system that enable less-invasive surgical techniques by minimizing soft tissue disruption during spine surgery; specialized spinal implants to advance spinal fusion by enhancing the osseointegration and biomechanical properties of implant materials, including porous titanium and porous polyetheretherketone; and fixation system that facilitates the preservation and restoration of patient alignment. The company also offers cervical total disc replacement technology for cervical spinal fusion surgery; neuromonitoring systems, which use proprietary software-driven nerve detection and avoidance technology, and its intraoperative neuromonitoring services and support; and Pulse platform, a software ecosystem that integrates multiple hardware technologies into a single, condensed footprint in the operating room. In addition, it provides expandable growing rod implant systems for the treatment of early-onset scoliosis; various biologics that are used to aid in the spinal fusion or bone healing process; Precice, an intramedullary implant device that utilizes the MAGEC technology to non-invasively lengthen the femur and tibia; and onsite and remote monitoring of the neurological systems of patients undergoing spinal and brain-related surgeries. The company sells its products to patients, surgeons, hospitals, and insurers through independent sales agents, directly employed sales personnel, and distributors in the United States and internationally. NuVasive, Inc. was incorporated in 1997 and is headquartered in San Diego, California.

NUVA Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales:
Net sales	$ 1,201,942	$ 1,138,988	$ 1,050,582
Cost of sales (excluding below amortization of intangible assets):
Cost of sales	336,507	322,278	321,631
Gross profit	865,435	816,710	728,951
Operating expenses:
Selling, general and administrative	634,095	610,085	547,195
Research and development	98,524	92,626	79,838
Amortization of intangible assets	49,376	57,309	51,726
Purchase of in-process research and development	0	0	1,011
Business transition (benefit) costs	(4,976)	68,719	10,878
Total operating expenses	777,019	828,739	690,648
Interest and other expense, net:
Interest income	2,759	160	1,472
Interest expense	(17,423)	(21,056)	(70,466)
Other expense, net	(21,430)	(25,459)	(16,854)
Total interest and other expense, net	(36,094)	(46,355)	(85,848)
Income (loss) before income taxes	52,322	(58,384)	(47,545)
Income tax (expense) benefit	(11,915)	(5,702)	10,392
Consolidated net income (loss)	$ 40,407	$ (64,086)	$ (37,153)
Net income (loss) per share:
Basic (in dollars per share)	$ 0.78	$ (1.24)	$ (0.72)
Diluted (in dollars per share)	$ 0.76	$ (1.24)	$ (0.72)
Weighted average shares outstanding:
Basic (in shares)	52,009	51,589	51,416
Diluted (in shares)	57,359	51,589	51,416
Products [Member]
Net sales:
Net sales	$ 1,090,954	$ 1,034,612	$ 950,189
Cost of sales (excluding below amortization of intangible assets):
Cost of sales	251,768	245,569	247,809
Services [Member]
Net sales:
Net sales	110,988	104,376	100,393
Cost of sales (excluding below amortization of intangible assets):
Cost of sales	$ 84,739	$ 76,709	$ 73,822

NUVA Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 248,663	$ 246,091
Accounts receivable, net of allowances of $19,601 and $21,064, respectively	249,373	214,398
Inventory, net	338,601	315,845
Prepaid income taxes	7,118	5,425
Prepaid expenses and other current assets	21,457	20,665
Total current assets	865,212	802,424
Property and equipment, net	346,510	303,664
Intangible assets, net	184,289	242,675
Goodwill	639,663	633,467
Operating lease right-of-use assets	95,112	102,987
Deferred tax assets	68,273	48,003
Restricted cash and investments	1,494	1,494
Other assets	23,952	19,361
Total assets	2,224,505	2,154,075
Current liabilities:
Accounts payable and accrued liabilities	120,333	115,614
Contingent consideration liabilities	66,975	7,986
Accrued payroll and related expenses	58,448	66,596
Operating lease liabilities	10,019	9,867
Income tax liabilities	12,217	828
Senior convertible notes	448,056	0
Total current liabilities	716,048	200,891
Long-term senior convertible notes	444,202	884,984
Deferred and other tax liabilities	13,088	3,049
Operating lease liabilities	103,806	111,592
Contingent consideration liabilities	63,640	139,824
Other long-term liabilities	14,831	18,528
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000 shares authorized, none outstanding	0	0
Common stock, $0.001 par value; 150,000 shares authorized at December 31, 2022 and December 31, 2021; 58,939 shares issued and 52,134 outstanding at December 31, 2022; 58,469 shares issued and 51,769 outstanding at December 31, 2021	63	63
Additional paid-in capital	1,469,411	1,434,976
Accumulated other comprehensive loss	(3,249)	(7,792)
Retained earnings	86,115	45,708
Treasury stock at cost; 6,805 shares and 6,700 shares at December 31, 2022 and December 31, 2021, respectively	(683,450)	(677,748)
Total equity	868,890	795,207
Total liabilities and equity	$ 2,224,505	$ 2,154,075